Total Energies Relinquishes Offshore Wind Projects in NY and NC
Raleigh, N.C. - Today, TotalEnergies signed settlement agreements with the United States Department of the Interior (DOI) to relinquish its offshore wind leases in North Carolina and New York. These settlement agreements are a major blow to the U.S clean energy economy, the offshore wind industry, and future grid reliability. The agreement will reimburse TotalEnergies nearly $1 billion in taxpayer dollars for its offshore wind leases in New York and North Carolina, while requiring it to redirect investment into natural gas infrastructure in Texas.
TotalEnergies’ Carolina Long Bay offshore wind lease had the potential to generate about 1.3 gigawatts of electricity, enough to power roughly 300,000 homes. The Carolina Long Bay lease area includes TotalEnergies’ lease [OCS-A 0545] and Duke Energy Renewables’ lease [OCS-A 0546]. Together, these projects were estimated to support approximately 37,000 jobs, $3 billion in annual wages, $233 million in state tax revenue, and $44 billion in capital investment during the development and construction phases of the projects.*
*These economic impact numbers are inclusive of both leases that make up Carolina Long Bay (TotalEnergies [OCS-A 0545] and Duke Energy Renewable [OCS-A 0546]).
North Carolina, like all states, finds itself in need of every electron it can procure as it faces a predicted eight fold increase in electricity demand by 2040. To meet that demand, the utility needs all available options on the table to ensure a least-cost and reliable grid. Natural gas is projected to reach nearly 50% of North Carolina’s energy mix by 2034 (up from 33% in 2025), heightening exposure to fuel-price volatility, pipeline constraints, and regional basis premiums.
Offshore wind offers North Carolina stable, predictable energy for decades to come by providing a hedge against more volatile fuels. These critical characteristics of offshore wind are particularly strong during times of peak demand, especially during winter storms, when other resources are constrained.
SEWC’s President Katharine Kollins added: “At a time when electricity demand is surging and grid reliability is under increasing strain, canceling offshore wind projects already under development puts North Carolina’s clean energy economy at risk. We have seen first hand how offshore wind has bolstered the U.S. grid this winter by providing zero cost fuel during extreme winter weather that caused other fuel prices to spike. Now is the time to be expanding our options, not taking them away.”
Kollins added: “This decision has implications beyond North Carolina. The offshore wind industry already represents billions in private investment and a major opportunity to strengthen U.S. energy reliability and economic competitiveness—taking this option away only puts jobs, infrastructure, and future capacity at risk.”
About SEWC
The Southeastern Wind Coalition is a 501(c)(3), nonpartisan organization that works to advance the land-based and offshore wind industry in the Southeast. We focus on providing fact-based information on the economic and environmental opportunities of wind energy, and encourage solutions that result in net economic benefits to residents and ratepayers. For more information about the Southeastern Wind Coalition, visit www.sewind.org